How Piketty is wrong—and right
High-skilled workers reap outsized income gains.
Content: Article | Authors: Howard R. Gold, Kevin M. Murphy, Robert H. Topel, Thomas Piketty | Source: Capital Ideas | Subject: Economics
Thomas Piketty
When the rate of return of capital [R] exceeds the rate of growth of output and income [G], as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.
Content: Quotation | Author: Thomas Piketty | Source: strategy+business | Subjects: Capitalism, Economics
Capital in the Twenty-First Century
The book aims to revolutionize the way people think about the economic history of the past two centuries. It may well manage the feat…It is, first and foremost, a very detailed look at 200 years’ worth of data on the distribution of income and wealth across the rich world (with some figures for large emerging markets also included). This mountain of data allows Piketty to … [ Read more ]
Content: Book | Author: Thomas Piketty | Subject: Economics